Book

Plan your estate / Attorney Denis Clifford.

Clifford, Denis, (author.).

Summary:

All you need to know about: wills & trusts; estate & gift taxes; avoiding probate; powers of attorney & living wills.

Record details

ISBN: 9781413325119
ISBN: 1413325114
Physical Description: 511 pages : illustrations ; 23 cm
Edition: 14th edition.
Publisher: Berkeley, California : Nolo, 2018.

Content descriptions

Bibliography, etc. Note:

Includes index.

Formatted Contents Note:

Selecting your estate planning goals -- Personal concerns and estate planning -- Special property ownership rules for married people -- Inventorying your property -- Your beneficiaries -- Children -- Wills -- Probate and why you want to avoid it -- Living trusts -- Joint tenancy and tenancy by the entirety -- Pay-on-death designations, registrations, and deeds -- Life insurance -- Retirement benefits -- State law exemptions from normal probate -- Estate taxes -- Gifts and gift taxes -- An overview of ongoing trusts -- AB disclaimer trusts -- Other estate tax-saving marital trusts -- Charitable trusts -- Other estate tax-saving trusts -- Disclaimers : after-death estate tax planning -- Combining estate tax-saving trusts -- Property control trusts for second or subsequent marriages -- Trusts and other devices for imposing controls over property -- Incapacity : making medical and financial decisions -- Body and organ donation, funerals, and burials -- Family business estate planning -- Using lawyers -- After you complete your estate plan -- After a death occurs -- Sample estate plans.

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Subject:

Estate planning > United States > Popular works.
Living trusts > United States > Popular works.
Inheritance and transfer tax > Law and legislation > United States > Popular works.

Genre:

Handbooks and manuals.
Law for laypersons.

Available copies

1 of 2 copies available at Evergreen Indiana.

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1 current hold with 2 total copies.

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Serials and magazines (1)
E-book (1)
English (12)

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Location	Call Number / Copy Notes	Barcode	Shelving Location	Status	Due Date
Princeton PL - Princeton	346.052 Cli (Text)	30890000702405	Adult Non-Fiction, Upper Level, Middle Room	In transit	-
Thorntown PL - Thorntown	346.052 CLI (Text)	30034001318487	Adult Non-Fiction	Available	-

Location

Call Number / Copy Notes

Barcode

Shelving Location

Status

Due Date

Princeton PL - Princeton

346.052 Cli (Text)

30890000702405

Adult Non-Fiction, Upper Level, Middle Room

In transit

Thorntown PL - Thorntown

346.052 CLI (Text)

30034001318487

Adult Non-Fiction

Available

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Table of Contents

Summary

Your Estate Planning Companion

(2)

Part I: Setting Your Goal

1 Selecting Your Estate Planning Goals

(16)

Part I: Setting Your Goals

(1)

Part II: Laying the Groundwork

(2)

Part III: Children

(1)

Part IV: Wills

(1)

Part V: Probate and How to Avoid It

(2)

Part VI: Understanding Estate and Gift Taxes

(2)

Part VII: Reducing or Eliminating Estate Taxes

(1)

Part VIII: Imposing Controls Over Property

(1)

Part IX: Taking Care of Personal Issues

(1)

Part X: Family Business Estate Planning

(1)

Part XI: Going Further

(1)

Part XII: Sample Estate Plans

(5)

2 Personal Concerns and Estate Planning

(18)

Avoiding Conflict

(4)

Leaving Unequal Amounts of Property to Children

(3)

Providing Care for Minor Children

(1)

Subsequent Marriages

(2)

Long-Term Care for a Child With Special Needs

(1)

Concerns of Unmarried Couples

(1)

Worries About the Effect of Inheriting Money

(1)

Disinheriting People, Including Children

(1)

Communicating Your Decisions to Family and Friends

(3)

Part II: Laying the Groundwork

3 Special Property Ownership Rules for Married People

(14)

What You Need to Know

(4)

Marital Property in Community Property States

(5)

Marital Property in Common Law States

(2)

Moving to a Different State

(2)

4 Inventorying Your Property

(22)

Instructions for the Property Inventory Worksheet

(10)

Your Property Worksheet

(11)

5 Your Beneficiaries

(14)

Types of Beneficiaries

(1)

Primary Beneficiaries

(3)

Life Estate Beneficiaries and Final Beneficiaries

(1)

Alternate Beneficiaries

(1)

Residuary Beneficiaries

(1)

Gifts Shared by More Than One Beneficiary

(1)

Establishing a Survivorship Period

(1)

Explanations and Commentary Accompanying Gifts

(1)

Disinheritance

(1)

Simultaneous Death

(1)

Property You Give Away by Will or Trust That You No Longer Own at Your Death

(2)

Part III: Children

6 Children

(24)

Naming Someone to Take Custody of Your Minor Children

(3)

Naming an Adult to Manage Your Child's Property

(3)

How Your Children's Property Should Be Managed

(6)

Tax-Saving Educational Investment Plans

101

(4)

Naming Children as Beneficiaries of Life Insurance

105

(1)

Leaving Property to Children Who Are Not Your Own

106

(1)

Disinheritance

107

(1)

Children Conceived After a Parent Dies

108

(3)

Part IV: Wills

7 Wills

111

(16)

A Will as the Centerpiece of Your Estate Plan

112

(1)

A Backup Will With a Comprehensive Estate Plan

113

(3)

What Makes a Will Legal?

116

(1)

Types of Wills

116

(6)

What Property Cannot Be Transferred by Will?

122

(1)

Explanatory Letters Accompanying Your Will

122

(2)

Can My Will Be Successfully Challenged?

124

(1)

Keeping Your Will Up to Date

125

(2)

Part V: Probate and How to Avoid It

8 Probate and Why You Want to Avoid It

127

(12)

What Is Probate?

128

(1)

Probate Fees

129

(2)

Avoiding Probate

131

(4)

When You May Want Probate

135

(1)

Debts, Taxes, and Probate Avoidance

136

(1)

Probate Reform

136

(3)

9 Living Trusts

139

(22)

Does Everyone Need a Living Trust?

141

(1)

Living Trusts Explained

142

(6)

Major Decisions in Creating a Living Trust

148

(6)

Creating a Valid Living Trust

154

(4)

Keeping Your Living Trust Up to Date

158

(3)

10 Joint Tenancy and Tenancy by the Entirety

161

(20)

What Is Joint Tenancy?

162

(2)

Joint Tenancy Bank Accounts

164

(1)

Joint Tenancy Safe Deposit Boxes

164

(1)

Tenancy by the Entirety

165

(1)

Joint Tenancy in Community Property States

166

(2)

Tax Concerns Affecting Joint Tenancy

168

(6)

Drawbacks of Joint Tenancy

174

(2)

When Joint Tenancy Makes Sense

176

(2)

Creating a Joint Tenancy for Property With Documents of Title

178

(1)

Creating Joint Tenancy for Personal Property Without Documents of Title

179

(2)

11 Pay-on-Death Designations, Registrations, and Deeds

181

(8)

Pay-on-Death Bank Accounts

182

(3)

Naming a Payable-on-Death Beneficiary for Government Securities

185

(1)

Naming a Beneficiary for Stocks and Bonds

185

(1)

Vehicle Registration

186

(1)

Transfer-on-Death Deeds for Real Estate

187

(2)

12 Life Insurance

189

(16)

Do You Need Life Insurance?

190

(2)

Types of Life Insurance

192

(6)

Life Insurance and Probate

198

(1)

Choosing Life Insurance Beneficiaries

198

(1)

Reducing Estate Tax by Transferring Ownership of Life Insurance Policies

199

(6)

13 Retirement Benefits

205

(12)

Social Security

206

(1)

Individual Retirement Plans

207

(3)

Pensions

210

(2)

When You Retire

212

(1)

Retirement Plans and Estate Planning

212

(3)

Probate and Taxes

215

(2)

14 State Law Exemptions From Normal Probate

217

(14)

Will Your Estate Qualify?

218

(1)

Using These Rules to Plan

219

(1)

Summary of State Law Exceptions to Normal Probate

220

(5)

California Exemptions From Normal Probate

225

(2)

New York Exemptions From Normal Probate

227

(1)

Texas Exemptions From Normal Probate

228

(1)

Florida Exemptions From Normal Probate

228

(3)

Part VI: Understanding Estate and Gift Taxes

15 Estate Taxes

231

(16)

Federal Estate Tax Exemptions

232

(1)

The Big Picture: Estate and Gift Taxes

233

(1)

Will Your Estate Have to Pay Taxes?

234

(5)

Calculating and Paying Estate Taxes

239

(2)

Reducing Federal Estate Taxes

241

(1)

The Federal Income Tax Basis of Inherited Property

242

(2)

State Inheritance and Estate Taxes

244

(3)

16 Gifts and Gift Taxes

247

(18)

The Federal Gift Tax: An Overview

248

(2)

What Is a Gift?

250

(4)

How the Federal Gift Tax Works

254

(2)

Using Gifts to Reduce Estate Taxes

256

(6)

When Not to Give Property Away: Tax Basis Rules

262

(2)

Using Gifts to Reduce Income Taxes

264

(1)

Part VII: Reducing or Eliminating Estate Taxes

17 An Overview of Ongoing Trusts

265

(12)

Trusts to Reduce Estate Taxes

267

(1)

Ongoing Trusts Used to Control Property

267

(1)

Ongoing Trusts and Avoiding Probate

268

(1)

What Ongoing Trusts Can't Do

268

(1)

When Ongoing Trusts Begin and End

269

(2)

The Trustee

271

(5)

Taxation of Ongoing Trusts

276

(1)

18 AB Disclaimer Trusts

277

(10)

AB Trusts Defined

278

(1)

How AB Disclaimer Trusts Work

279

(2)

Is an AB Disclaimer Trust Right for You?

281

(2)

Choosing Trustees for an AB Disclaimer Trust

283

(1)

Do You Need a Lawyer to Create an AB Disclaimer Trust?

283

(4)

19 Other Estate Tax-Saving Marital Trusts

287

(18)

QTIP Trusts

289

(10)

Trusts for Noncitizen Spouses: QDOTs

299

(2)

Marital Deduction Trusts

301

(4)

20 Charitable Trusts

305

(18)

An Overview of Charitable Trusts

306

(3)

The Income Tax Deduction

309

(3)

A Closer Look at Charitable Remainder Trusts

312

(6)

A Closer Look at Charitable Lead Trusts

318

(5)

21 Other Estate Tax-Saving Trusts

323

(20)

Generation-Skipping Trusts

324

(4)

Irrevocable Life Insurance Trusts

328

(4)

Grantor-Retained Interest Trusts: GRATs, GRUTs, and GRITS

332

(11)

22 Disclaimers: After-Death Estate Tax Planning

343

(8)

Advantages of Disclaimers

344

(2)

IRS Rules for Disclaimers

346

(3)

Including Disclaimers in Your Estate Plan

349

(2)

23 Combining Estate Tax-Saving Trusts

351

(6)

Combining Two Estate Tax-Saving Trusts

352

(1)

Combining a Charitable Trust With Other Estate Tax-Saving Trusts

353

(4)

Part VIII: Imposing Controls Over Property

24 Property Control Trusts for Second or Subsequent Marriages

357

(12)

Evaluating Your Situation

359

(2)

How a Marital Property Control Trust Works

361

(1)

Restricting the Surviving Spouse's Rights Over Trust Property

362

(3)

The Role of the Trustee

365

(2)

Working With a Lawyer

367

(2)

25 Trusts and Other Devices for Imposing Controls Over Property

369

(14)

Educational Trusts

371

(1)

Trusts for People With Special Needs

372

(2)

Spendthrift Trusts

374

(2)

Sprinkling Trusts

376

(2)

Trusts to Manage Your Own Property

378

(1)

Powers of Appointment

379

(3)

Combining Property Control Trusts

382

(1)

Part IX: Taking Care of Personal Issues

26 Incapacity: Making Medical and Financial Decisions

383

(20)

Medical Decisions

385

(11)

Financial Decisions

396

(5)

Guardianships and Conservatorships

401

(2)

27 Body and Organ Donation, Funerals, and Burials

403

(14)

Making Your Own Choices

404

(1)

Leaving Written Instructions

405

(1)

Donating Your Body or Organs

406

(1)

Death Notices and Obituaries

407

(2)

Services and Ceremonies Following a Death

409

(1)

Funerals

409

(4)

Cremation

413

(1)

Burials

413

(4)

Part X: Family Business

28 Family Business Estate Planning

417

(12)

Operation of the Business

418

(3)

Reducing Estate Taxes

421

(6)

Avoiding Probate of a Family Business

427

(2)

Part XI: Going Further

29 Using Lawyers

429

(12)

Hiring a Lawyer

430

(5)

Doing Your Own Research

435

(6)

30 After You Complete Your Estate Plan

441

(6)

Storing Your Estate Planning Documents

442

(1)

Revising Your Estate Plan

443

(4)

31 After a Death Occurs

447

(10)

Wills

448

(1)

Probate Avoidance Living Trusts

448

(3)

Ongoing Trusts for Estate Tax Savings or Property Management

451

(2)

Preparing and Filing Tax Returns

453

(1)

Trustee's Reports to Beneficiaries

453

(1)

Collecting the Proceeds of a Life Insurance Policy

454

(1)

Obtaining Title to Joint Tenancy Property

455

(1)

Digital Assets

456

(1)

Part XII: Sample Estate Plans

32 Some Estate Plans

457

(10)

A Prosperous Couple in Their 60s and 70s

458

(1)

A Wealthy Couple in Their 70s

459

(1)

A Single Man in His 60s

460

(1)

A Younger Couple

461

(1)

A Single Mother in Her 30s

462

(1)

A Widow in Her 80s

463

(1)

A Couple in Their 60s, in a Second Marriage

464

(1)

An Unmarried Couple in Their 40s

465

(2)

Glossary

467

(12)

Index

479

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